Fingleton remorseful about Nationwide bail-out

Wednesday 18 August 2010 19.24
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Michael Fingleton - Speaks for the first time about his role in the banking crisis
Michael Fingleton - Speaks for the first time about his role in the banking crisis
Building society bail-out - Nationwide may need more cash
Building society bail-out - Nationwide may need more cash

Michael Fingleton has spoken for the first time about his role in the banking crisis. The former Irish Nationwide Building Society boss told RTÉ News that he felt remorseful about how taxpayers were forced to bail out the building society.

He was speaking at Dublin Airport on his return from Spain.

Mr Fingleton said everything was being done that could be done to address banking problems.

When asked if he would repay the €1m bonus he received in 2008, he said he had already made a full public statement on the matter.

On secret loans to directors at Anglo Irish Bank which were temporarily transferred to Irish Nationwide to remain hidden, Mr Fingleton said investigations would show the building society had no responsibility for the loans.

He also said he had co-operated with investigations and would do so in every way he could.

His comments come a day after Central Bank Governor Patrick Honohan revealed it could cost about €3.2 billion to recapitalise the Irish Nationwide Building Society.

Mr Fingleton ran the building society for more than three decades before he stood down last year.